This province lacks ‘reasonable’ cyber security: privacy commissioner
January 15, 2019 Keith Doucette - THE CANADIAN PRESSHALIFAX – A pair of reports slam the Nova Scotia government for failing to protect personal information, saying the risk management around its freedom-of-information website was inadequate and a privacy breach last year was preventable. In his report released Tuesday…
Hub acquires Canadian employee benefits firm
January 8, 2019 by Jason ContantChicago-based global brokerage Hub International announced Tuesday it has acquired British Columbia-based employee benefits and pension brokerage TRG Group Benefits and Pensions Inc., the 13th such acquisition since last year. “Hub continues its strategy of assembling best-in-class capabilities and entrepreneurial…
Why A.M. Best gave the global reinsurance segment a ‘stable’ outlook
December 6, 2018 by David GambrillCORRECTION: An earlier version of this story incorrectly stated that A.M. Best had changed its outlook for the global reinsurance sector from ‘Stable’ to ‘Negative.’ In fact, the outlook changed to ‘Stable’ from ‘Negative.’ Canadian Underwriter apologizes for the error.…
Quebec broker regulator gets new CEO
November 21, 2018 by Greg MeckbachThe regulator of Quebec’s property and casualty insurance brokers will have a new chief executive officer next week. Anne-Marie Poitras is CEO of Chambre de l’assurance de dommages (ChAD) effective Nov. 29, ChAD announced Wednesday. A former broker and claims adjuster,…
The Top 3 risk concerns for Canadian executives
November 19, 2018 by Jason ContantBusiness executives in Canada and the United States say economic risk (21%) is their primary concern, followed closely by cyber risk (20%) and technology risk (16%). CNA Hardy released its first global Risk and Confidence Survey Monday. While over two-thirds…
Welcome news for employee benefit providers in Canada
October 24, 2018 by Jason ContantEmployer medical cost inflation in Canada is trending lower than global averages, which is “welcome news for employers providing employee benefits in Canada,” commercial brokerage Aon said Tuesday. For the second year in a row, medical cost inflation in Canada…
How this province is limiting the scope of cannabis risk
September 27, 2018 by Jason ContantOntario will soon introduce legislation defining the scope of recreational marijuana use, just weeks before the federal government is scheduled to legalize pot on Oct. 17. The governing Progressive Conservative Party is introducing a tightly-regulated regime in which municipalities will…
Building an innovative culture? Here are two pitfalls to avoid…
June 29, 2018 by David GambrillCompanies often make two common blunders when they seek to disrupt themselves. First, some talk about hiring a bunch of “intrapreneurs” – creative geniuses who break all the rules and swim against the corporate tide – and then silo them…
Data-harvesting firms are exploiting gaps in Canadian law, MPs hear
May 10, 2018 The Canadian PressOTTAWA – Lawmakers delving into the Facebook data scandal are hearing experts call for substantial regulatory upgrades to protect the privacy of Canadians – as well as warn of democratic and economic risks posed by foreign companies motivated by “surveillance…
How to give your client a ‘wake-up call’ on cyber risk
April 14, 2018 by Greg MeckbachCyber insurance application forms can give companies a “good understanding” of how well prepared they are to deal with an information security-related loss, speakers said Thursday at the International Cyber Risk Management Conference in Toronto. “We have seen clients stop…
You’ve got your clients’ data locked down, but can you prove it to a regulator?
March 28, 2018 by David GambrillInsurance organizations may be good at protecting their own clients’ data, but can they prove it? “In general, I would say that insurers are good at securing their data,” French Caldwell, a former advisor to the White House on cybersecurity,…
What to ask your D&O clients before a market correction
February 15, 2018 Greg Meckbach, Associate EditorThe latest stock market roller coaster ride should prompt brokers placing directors’ and officers’ liability to ask their clients about independent audits and internal controls. The week ending Feb. 9 saw a “a steep and broad-based selloff” in the stock…